LONDON - Blue Sphere Corp. (OTCBB: BLSP) (the 'Company' or “Blue Sphere”), a company in the Cleantech sector as an Emission Reduction project integrator, is pleased to announce that it has completed its due diligence on the Uzbekistan project announced on May 11, 2010 and has entered into a joint venture agreement to implement the project. The project, which is located in Smarkand, Uzbekistan, includes both landfill gas extraction and compost clean development.

In exchange for a substantial controlling interest in the project, we have agreed to fund, directly or indirectly, the project’s budgeted operating and capital requirements. Implementation of the project is subject to obtaining financing on acceptable terms.

Blue Sphere has been moving forward with the development of this project and has a letter of approval from the government of Uzbekistan and a Project Design Document (which contains a comprehensive description of the project and is required for the project to be validated and registered in accordance with the rules of the Kyoto Protocol) for both the landfill gas and the compost components of the project. The next step is to submit the project for validation and then to the United Nations for registration. A validator has been selected (SGS).

The landfill gas extraction component consists of installing a flare to capture and destroy methane gas contained in the Samarkand landfill. It is expected that the landfill will continue to generate methane until 2024. There is also an option of power generation subject to economic factors.

The compost component consists of installing at the Samarkand landfill composting equipment to process newly-delivered waste and convert it into fertilizer to be sold to local farmers.

The annual estimated carbon credits for the project (known as Certified Emission Reductions (“CERs”)) is in excess of 100,000.

The sale price of the project’s CERs have been locked in through 2012 pursuant to an industry standard agreement with a third party buyer and there is written indication of interest from potential buyers regarding the sale price for the project’s post-2012 CERs as well. As currently drafted, the European Union Emissions Trading System (which is the EU legislation that implements the Kyoto Protocol in EU member states and creates EU-specific emissions reduction targets and procedures) provides a market for this project’s CERs through the end of 2020, which will yield a minimum of 9 full years of CERs. When emission reduction targets for developed countries for post-2020 are finalized, such targets will extend the Kyoto market beyond 2020. The proposed US scheme, as currently drafted, will accept up to 1 billion CERs, which is more than the total number of CERs issued to-date.

“We have made a lot of progress determining the feasibility of this project and we are pleased to finalize the details,” said Shlomi Palas, CEO of Blue Sphere.

Related news

Volumes of carpet waste diverted from landfill in the UK continue to rise, with 168,000 tonnes reused, recycled or recovered for energy in 2017, reports Carpet Recycling UK.
This represents a diversion rate of 42% - up from 35% and an increase in 26,000 tonnes compared to 2016, according to the industry body’s latest figures. Around 400,000 tonnes of waste carpet arise each year in the UK.
Energy recovery accounted for 124,000 tonnes with the growing use of carpets as a renewable fuel source in...

Fortum has published its updated version of Energy Review, which focuses on the Circular Economy. The original version was published in June 2017. EU waste legislation, the so-called Circular Economy Package, is under final reading. Fortum strongly supports the improvements connected to traceability and separation of hazardous waste as well as decontamination of the waste to be recycled by removing unwanted hazardous substances. This is vital for ensuring a safe circular economy.“The ambitious recycling...

In the great global rush for bottled water, nowhere is thirstier than Asia. Demand is predicted to surge by more than 140% across the region this decade, to account for one-third of the global total by 2020.China leads the way. The country accounted for 28% of the global demand for polyethylene terephthalate (Pet) bottles in 2015. Consumers bought 73.8bn bottles of water in 2016, up more than five billion on the previous year.The cause is the expanding middle class and rising wages across the board. A generation...

OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, today announced that its Joint Venture (JV) in Malaysia, OriginClear Water Solutions (OWS), has received a commercial scale purchase order from Envirogard, a water treatment systems engineering company based near Kuala Lumpur.
The assignment is to retrofit an underperforming landfill leachate treatment system with an EWS:AOx system. Required capacity is 100 m3 (approximately 26,000 gallons) of waste water per day, to be increased...

Customer comments

No comments were found for Blue Sphere Corp. Announces Uzbekistan Landfill and Compost Joint Venture. Be the first to comment!

Add your comment

Great! comment successfully added!

Contact supplier

Your message:

Your email

Your first name

Your last name

I would like to receive periodic email updates and special offers from select suppliers.